Resolution No. 4559 - Laserfiche WebLink

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to pave; construct curbs, gutters, force main, wastewater and storm drainage systems and sidewalks; and to install street lights, pedestrian signal, and street trees. Section 3. The costs of the Improvements, except for the force main, which are excluded pursuant to E.C. 7.175(1)(e), shall be borne by, and assessed to the properties in the district in accordance with E.C. 7.175. Included in the cost shall be the overhead costs specified in E.C. 7.170 and whatever other special costs, such as acquisition of interests in real property as are necessary to make the improvements. Upon completion of the Improvements, the final costs therefor will be calculated and the owners of benefitted property shall be notified and the property assessed as provided in E.C. 7.185 to 7.240. The assessments to be levied for these improvements are hereby characterized for purposes of the property tax limitation in Section 11 b, Art. XI of the Oregon Constitution as assessments for a local improvement, not subject to the constitutional limitation of $10 per thousand of real market value. Notice of the intent to so characterize the assessments was sent to the affected property owners prior to the adoption of this resolution. Section 4. The City Council hereby declares that the construction of the Improvements, as well as acquisition of rights-of-way or easements necessary for the construction, is for a public purpose, is necessary for the public welfare, and is authorized under the laws of the State of Oregon and Charter and ordinances of the City of Eugene, and is directed by this Resolution. Section 5. Improvement warrants, short-term promissory notes and other evidence of indebtedness authorized by Chapter 902, 1991 Oregon Session Laws, issued to finance the construction of the Improvements shall be indebtedness for them. When improvement warrants are issued they may be general obligation warrants or limited general obligation warrants or other similar instrument. Such indebtedness shall bear interest at a rate set by Council resolution authorizing the